In a news article from October 25 2012, the focus is on the significance of owning physical gold amidst a financially uncertain world. The author Simon Black emphasised the importance of gold being a non-liability asset, especially in a system filled with insolvent banks and bankrupt governments. While various products like ETFs are available for buying gold, Simon argues that true ownership of gold, as a safe haven and anti-currency, is achieved through purchasing physical coins and bars.
He recommends recognized physical forms like one-ounce Canadian Maple Leaf coins and ten-ounce Credit Suisse bars due to their well-developed and highly liquid market worldwide. For individuals residing in financially unstable Western nations, the suggestion is to consider storing physical gold in a secure jurisdiction abroad to protect it from potential wealth seizures by insolvent governments.
Singapore is highlighted as an ideal location for owning and storing gold for several reasons. Firstly, it is considered one of the safest places globally with minimal crime and no corruption. Singapore's transparency and adherence to contracts make it an attractive option for secure storage. Additionally, its business-friendly environment, low taxes, and stability contribute to its appeal. The recent removal of sales tax on investment-grade precious metals, including certain gold coins, has further enhanced Singapore's status as a gold storage hub, leading to increased activity in the precious metals trade.
Things you should know about keeping Gold in Singapore
In a news article from October 25 2012, the focus is on the significance of owning physical gold amidst a financially uncertain world. The author Simon Black emphasised the importance of gold being a non-liability asset, especially in a system filled with insolvent banks and bankrupt governments. While various products like ETFs are available for buying gold, Simon argues that true ownership of gold, as a safe haven and anti-currency, is achieved through purchasing physical coins and bars.
He recommends recognized physical forms like one-ounce Canadian Maple Leaf coins and ten-ounce Credit Suisse bars due to their well-developed and highly liquid market worldwide. For individuals residing in financially unstable Western nations, the suggestion is to consider storing physical gold in a secure jurisdiction abroad to protect it from potential wealth seizures by insolvent governments.
Singapore is highlighted as an ideal location for owning and storing gold for several reasons. Firstly, it is considered one of the safest places globally with minimal crime and no corruption. Singapore's transparency and adherence to contracts make it an attractive option for secure storage. Additionally, its business-friendly environment, low taxes, and stability contribute to its appeal. The recent removal of sales tax on investment-grade precious metals, including certain gold coins, has further enhanced Singapore's status as a gold storage hub, leading to increased activity in the precious metals trade.
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